NinePoint Medical Completes $33 Million Series A Financing to Develop
Innovative Broad-Based Medical Platform for in vivo Pathology
Devices

Company Establishes Cambridge, Mass. Headquarters with Charles
Carignan, M.D., as President and CEO; Expects to Hire up to 25 People
Over the Next 12 Months

October 14, 2010 06:30 AM Eastern Daylight Time

CAMBRIDGE, Mass.--(BUSINESS WIRE)--NinePoint Medical, Inc., an emerging leader in the development of in
vivo pathology devices, today announced it has completed a $33
million Series A financing led by Third Rock Ventures and Prospect
Venture Partners. The company also announced the establishment of its
corporate headquarters in Cambridge, Mass. where Charles Carignan, M.D.,
serves as president and chief executive officer.

Proceeds from the financing will be used to develop NinePoint’s
innovative in vivo pathology technology platform. NinePoint
intends to utilize this platform to develop and commercialize a
portfolio of medical devices designed to positively impact the existing
access, diagnosis and treatment paradigm used in the examination of
dysplastic, pre-cancerous and cancerous cells. The company also plans to
expand its team with approximately 25 new hires over the next 12 months,
and eventually intends to run a manufacturing facility at its Cambridge
headquarters.

NinePoint’s initial focus will be on developing devices for the
examination of the gastrointestinal tract. The devices are designed to
allow gastroenterologists and offsite pathologists to review advanced
tissue images during biopsies and other therapeutic and diagnostic
procedures in real time. This capability would potentially provide
physicians with immediately actionable information and eventually, the
ability to treat the questionable cells at the time of diagnosis. By
streamlining the timeline and the steps required to go from diagnosis to
treatment, NinePoint believes it can significantly improve patient
experiences and outcomes, improve the efficiency of care and provide
important savings to the healthcare system. Over time, the company
believes that the technology will have broad applicability across a
number of diagnostic and therapeutic categories. Further insights on the
technology will be unveiled in the coming weeks.

“This is an exciting time for NinePoint,” said Dr. Carignan. “With the
support and strategic guidance from our founders and advisors, we
believe we can successfully develop and commercialize a groundbreaking
portfolio of medical devices that may dramatically improve diagnostic
and treatment options for patients and physicians. We also look forward
to positively impacting the Boston-area economy with the creation of new
jobs at our Cambridge facility as we focus on building out a dynamic
team to achieve our goals.”

Dr. Carignan brings more than 20 years of experience in medical device
development to the company. Prior to joining NinePoint, Dr. Carignan was
executive vice president and chief medical officer of Novasys Medical,
Inc., where he was responsible for the successful launch of a women’s
health medical device. Prior to that, he was the chief medical officer
at Boston Scientific, where he led all aspects of medical and clinical
affairs for the endosurgery group, including women’s health, urology,
gastroenterology, pulmonology, and oncology. Prior to this role he was
the vice president of clinical research and medical affairs at Conceptus
where he oversaw the clinical development of the Essure device for
female sterilization, a device that has changed the standard of care for
tubal ligation. He has conducted physician training in more than 50
countries and participated on various committees of the World Health
Organization, the Population Council, the United Nations and the U.S.
Agency for International Development. Dr. Carignan earned his
undergraduate degree from Yale University, received his M.D. degree from
the College of Physicians and Surgeons of Columbia University and
trained in general surgery at Columbia-Presbyterian Medical Center.

“NinePoint Medical is the first medical device company that Third Rock
Ventures has seeded and launched, and we are optimistic that the
company’s unique positioning will successfully change the treatment
paradigm in a market with significant unmet needs,” said Mark Levin,
partner of Third Rock Ventures, and member of the board of NinePoint.
“With Chuck’s extensive experience in developing and commercializing
minimally invasive products and the company’s access to advanced,
proprietary visualization technology, we believe NinePoint is well
positioned to lead the convergence of access, diagnosis and treatment
and develop truly transformational medical devices.”

“We are delighted to partner with Third Rock to fund an innovative
medical device company that brings together state-of-the-art technology
and the best minds in optics, software and medical device development,”
said Russell Hirsch, M.D., Ph.D., managing director of Prospect Venture
Partners, and member of the board of NinePoint. “The NinePoint model
fits well with Prospect’s investment philosophy of supporting
commercially attractive biomedical enterprises with outstanding
entrepreneurial management teams. We look forward to working with
NinePoint to advance its programs and technology development.”

About NinePoint Medical, Inc.

NinePoint Medical, Inc. is a transformational medical device company
developing innovative, real-time, in vivo pathology devices. The
company’s first goal is to develop a device that enables remote
pathology, or telepathology, which would facilitate immediate review of
images during diagnostic procedures. This capability could potentially
provide physicians with immediately actionable information and
eventually allow them to pursue therapeutic remedies at the time of
diagnosis. This convergence of access, diagnosis and treatment during
one procedure is expected to improve patient experiences and outcomes,
improve the efficiency of care and provide important savings to the
healthcare system. Headquartered in Cambridge, Mass., NinePoint is
backed by Third Rock Ventures and Prospect Venture Partners. For more
information, please visit www.ninepointmedical.com.